Japanese investment firm Metaplanet has recently solidified its position as Asia's second-largest corporate holder of Bitcoin, surpassing 1,018.17 BTC in its treasury.
Japanese investment firm Metaplanet has recently solidified its position as Asia's second-largest corporate holder of Bitcoin, surpassing 1,018.17 BTC in its treasury.
This milestone follows the firm's latest acquisition of 156.78 BTC on Oct. 28, bringing its total holdings to approximately $68 million.
The company’s average purchase price for Bitcoin now stands at around $61,629, or about 9.4 million Japanese yen per BTC. Metaplanet's Bitcoin strategy has been described as a “Bitcoin-first, Bitcoin-only” approach, a decision made in response to ongoing economic pressures in Japan. The firm first adopted Bitcoin as a treasury reserve asset in May.
Despite Metaplanet's significant holdings, it remains behind Boyaa Interactive International, a Chinese company that holds 1,100 BTC and is thus the largest corporate Bitcoin holder in Asia.
Following Metaplanet is Hong Kong-based Meitu, which has 940.9 BTC in its possession.
Simon Gerovich, CEO of Metaplanet, announced the achievement on social media platform X, confirming the company's intention to continue purchasing Bitcoin in the future. When asked about continuing investments, Gerovich stated, “Always and forever.”
Since its initial Bitcoin purchase, Metaplanet's stock has performed notably well. Following a previous investment of 107 BTC on Oct. 15, shares surged by 16%.
The company's shares currently trade at approximately 1,150 JPY, or about $7.50, reflecting a remarkable increase of 505.26% in 2024, according to Google Finance data.
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